Snap expects ad platform to drive annual sales growth of over 50% for many years

FILE PHOTO: A logo of Snap is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson

Snap Inc's self-serve advertising platform can drive multiple years of over 50% annual revenue growth, its product chief said on Tuesday.

Shares of the social media firm were up nearly 4% in afternoon trading.

(Reporting by Munsif Vengattil in Bengaluru and Sheila Dang in New York)